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ASX BookBuild is a new on-market capital raising platform that builds on the best features of existing methods, whilst overcoming their limitations. While ASX BookBuild is an initiative of the ASX, it isn’t mandatory. Nor is it mutually exclusive of existing methods.

Members of the financial and political community gathered at the Australian Securities Exchange on Monday to celebrate something that should not have taken so long. Finally, retail investors have the chance to buy exchange-traded Australian government bonds ...

By the time Mirvac’s $400 million capital raise for its GE acquisition closed on Monday it was three to four times oversubscribed. But new chief executive Sue Lloyd Hurwitz had little time to celebrate the achievement.

NBR has called for more transparency with IPO book builds, and readers strongly agree. The question now: will Finance Minister Bill English and SOE Minister Tony Ryall listen as they emark on the next three power company partial privatisations?

Christine St Anne: Our Head of Equities, Peter Warnes recently made some comments about retail investors getting unfair access to deals like IPOs. A new service from the ASX aims to change that.  Today, I'm joined by Ben Bucknell to tell us a little bit more about ...

Listed companies and their advisers will need to be nimble to adapt to the changing dynamics of project funding. Many junior listed companies, particularly in the resources sector, are looking towards the New Year with the same sense of dread as in the latter half of 2008.

A new tool from the Australian Securities Exchange (ASX) will help the boards of listed companies better meet their corporate governance obligations around capital raisings and address concerns that some primary market issues lack transparency and disadvantage small investors.

One of the curious aspects of the proposal for an ASX-operated bookbuild facility for capital raising that the ASX unveiled last week is the way in which the investment banks are characterising it as an assault on their franchises while the ASX is trying to ...

 Australia's main exchange is hoping to launch what it claims is the world's first product to allow companies to build their own books for initial public offerings and capital raising. Until now, bookbuilding has always been the exclusive domain of investment banks, which decide ...

An Australian Securities Exchange proposal to compete with brokers and investment banks in a key part of the capital raising market should be welcomed as introducing more competition and transparency.

The Australian Securities Exchange has received critical support from fund managers and shareholder representatives over its radical plan to carry out book-builds for company floats and capital raisings.

Earlier this year, retail investors were shocked to learn they would only get a fraction of the deeply discounted stock QBE Insurance was giving away as it tried to raise money to repair its balance sheet.

THE Australian Securities Exchange has taken the first step to potentially break the investment banks' control of the equities capital market by proposing to manage the book-build process. The present system is led by the banks who run in-house auctions to raise equity ...

The Australian Securities Exchange is on a collision course with the country's biggest investment banks over a plan to conduct book-builds of allocations for company floats and capital raisings openly on the market itself.

Junior mining companies are increasingly resorting to heavily discounted rights issues to fund projects amid fears the resources boom has peaked. In late June, the small resources index hit its lowest level in three years.

BILLABONG is a textbook case on what can happen to shareholders in the wrong company at the wrong time -- a stock selling at $6.42 one year ago will open next week at closer to $1 a share. The litany of shareholder disasters is primarily due to the collapse in ...

Elmer Funke Kupper ’s latest effort to ensure the Australian Securities Exchange can maintain its competitive position while making it ­easier for mid- and small-cap companies to raise capital is a welcome move and not a wholesale attack on shareholder rights.

SHAREHOLDERS are being mugged mercilessly but you won't see it on the nightly news. The market isn't the culprit I have in mind either, not that it's covered itself in glory. This is about boards behaving badly - those handing over shares so discounted as to be free ...

Guy Foster put on a brave face as he tried to hold the investment banking line against one barrage after another from the big three investors who had lined up in the amphitheatre of Melbourne Business Schol last Tuesday.

HAVE the bad old days of capital raisings, with select shareholders given preferential treatment, returned to haunt us? That's the question being asked following a pair of highly scrutinised share issues worth more than $1 billion by QBE and Bank of Queensland.

QBE has insisted it tried to favour retail investors under a $600 million capital raising despite the smaller shareholders being left scrambling for stock this week. The comments came as the Australian Securities and Investments Commission warned it may seek to toughen laws ...

AUSTRALIA's corporate regulator has told companies they should voluntarily disclose more information about capital raisings, warning that it may seek to toughen laws if shareholders are repeatedly disadvantaged in raisings.

Long-term equity holders have accused Australian company directors of being unaware of the effects of capital raisings on existing shareholders. The comments came yesterday at a heated panel discussion on the ethics of capital raisings held by institutional governance ...